American Bancorp of Nevada posts increase.LAS VEGAS--(BUSINESS WIRE)--Jan. 22, 1996--American Bancorp of Nevada Nevada (nəvăd`ə, –vä–), far western state of the United States. It is bordered by Utah (E), Arizona (SE), California (SW, W), and Oregon and Idaho (N). reported a 23.92 percent increase in profits for 1995. The corporation, which is the parent company of American American, river, 30 mi (48 km) long, rising in N central Calif. in the Sierra Nevada and flowing SW into the Sacramento River at Sacramento. The discovery of gold at Sutter's Mill (see Sutter, John Augustus) along the river in 1848 led to the California gold rush of Bank of Commerce, netted $4,107,000 or $1.26 a share for the 12-month period ending Dec. 31, compared with $3,314,000 or $1.04 a share in the same period in 1994. Assets increased 21.75 percent to $276.9 million, compared to $227.4 million at the same date in 1994. The corporation also posted increased fourth-quarter results. The fourth quarter of 1995, American Bancorp netted $1,028,000 or 32 cents a share, compared with $893,000 or 28 cents a share during the fourth quarter of 1994. In 1995, American Bancorp posted return on equity of 20.40 percent and a return on assets Return on assets (ROA) Indicator of profitability. Determined by dividing net income for the past 12 months by total average assets. Result is shown as a percentage. ROA can be decomposed into return on sales (net income/sales) multiplied by asset utilization (sales/assets). of 1.61 percent. President and Chief Executive Officer, James Bradham attributed the growth in earnings to a favorable fa·vor·a·ble adj. 1. Advantageous; helpful: favorable winds. 2. Encouraging; propitious: a favorable diagnosis. 3. local economy, minimal loan losses and close attention to non-interest expenses. He attributed the growth in assets to the ongoing success of the bank's clientele and successful business development efforts. CONTACT: American Bancorp of Nevada Bob Olson Bob Olson was an American football player. His home town was Superior, Wisconsin. He attended Notre Dame where he played linebacker between 1968 and 1969 and became team captain. , 702/362-7222 |
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